When to proceed with mortgage application and conveyancing

student100

We have accepted an offer on our property (from a cash buyer) and have just had an offer accepted on a property. However the vendors of the property we are buying now have to find somewhere to move, so the chain is not complete.

We have an up to date mortgage agreement in principle but have not started the mortgage application proper for this property.

When is the best time to proceed with the mortgage application (and valuation) and instruct the solicitor to start searches etc? Right away, or do we wait for our vendors to find a place and have an offer accepted? Or if their vendors turn out to have an onward chain should we wait for that to be complete too?

If it makes any difference the mortgage is with Nationwide and we're going for the no fee option with no valuation or booking fees. (Though we're likely to pay the extra to get their surveyor to do a home buyer report). Going direct to Nationwide with no broker.

Surrey_EA

Wait until the chain is complete before pressing ahead with mortgage application and searches. This will potentially avoid any unnecessary expense, and should mean you avoid the issue of your mortgage offer expiring before you're ready to move, if the chain takes a while to form.

G_M

But have your decisions made:

which lender and which mortgage product
which conveyencer

student100

OK - yes we know our lender and mortgage product, and the conveyancer is already sorted because we had a previous purchase that fell through (though that had no onward chain, hence me asking).